The offers will assist Reliance meet its purpose of eliminating $21.Four billion (rooughly Rs. 1.6 lakh crores) in internet debt by the top of the 12 months.

Reliance’s shares have tripled in worth within the final three years coinciding with staggering subscriber progress at Jio Infocomm, which is now a part of Jio Platforms.

The telecom service has notched up greater than 376 million subscribers since its launch in late 2016, primarily at the expense of Vodafone Idea. Vodafone Idea misplaced a fifth of its wi-fi clients final 12 months and had some 329 million subscribers as of January.

Reliance’s oil and fuel, refining and petrochemical companies as soon as underpinned the conglomerate’s progress, however they’ve taken a pointy hit as oil costs collapsed. Weakness in these companies led Reliance to submit its worst quarterly revenue fall in 11 years final month.

In addition to working the world’s largest refining complicated, Reliance additionally operates supermarkets and TV channels.